The concept of a matrix. Types and properties of matrices. Transpose, inverse, symmetric, and identity matrix. Matrix algebra. Addition, subtraction, division, multiplication. Square matrices. Use of matrices to solve simultaneous equations (systems of linear equations with two or with three unknowns).

Linear programming-Formulation and graphical Solution

Inequalities in the plane. Introduction to Linear Programming. Graphical solutions for maximization and minimization. Applications in business problems. Special cases (no feasible region, unboundness and multiple solutions)

Linear programming-Formulation and Simplex Method

Further linear programming. Formulation of more complicated problems. Linear programming in 3-dimensions. The usage of Simplex Method. Duality and Sensitivity Analysis.

Anton, H., and Kolman, A., Mathematics with Applications for the Management, Life and Social Sciences, Wiley, 2002.

Planned learning activities and teaching methods

The course is delivered to the students by means of lectures, and tutorials. Lecture notes are available through the e-learning platform of the University, and the instructor’s webpage. Students are strongly encouraged for class work, problem and exercise solving and discussion.